C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 357—REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS HELD IN TREASURY/RESERVE AUTOMATED DEBT ENTRY SYSTEM (TRADES) AND LEGACY TREASURY DIRECT › Subpart D—Additional Provisions

31 C.F.R. § 357.43

Liability for transfers to and from Legacy Treasury Direct ®

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A depository institution or other entity that transfers to, or receives, a security from Legacy Treasury Direct is deemed to be acting as agent for its customer and agrees thereby to indemnify the United States and the Federal Reserve Banks for any claim, liability, or loss resulting from the transaction.